Hey guys, here with an update to address the concerns as of late.
I could still put money into this, but some basic stuff would need to be answered.
- What was the income form last 2 weeks?
- How much was already spend from the ICO funds?
- On what was it spent?
- How will the rest be spent?
- Whats que cost of aquisition per user at this point?
- What are the revenue predictions in 1 year? Whats the plan to reach that goal?
We have not been gathering stats regularly since we've been focusing on development. When we have some time, I'll post these number in regards to income. How the money is being used and spent is detailed in the infographics as well as the business plan, so please refer to those.
In regards to the cost of cost acquisition per user at this point we cannot honestly give you a number. I'm pretty sure I've mentioned this before but
we have not started marketing yet. Time is currently being focused on developing the UI, fixing bugs (some of which have been brought to our attention by philakone, shout out!), and other background tasks. Due to this, we cannot give you revenue predictions either.
We can't answer some of these questions unless you're asking us to just pull numbers out of no where and guess which then if anything it would be an optimistic opinion at best and I'd like to refrain from doing that as it would give people the wrong idea.
There's been a lot of uproar as of late due to some of the issues philakone has pointed out. I've sat down with John and gone over out options of how we're going to tackle them and we've already started on implementing our strategies.
We'll be doing a maintainence at 9 PST where we'll be taking the site down to temporarily test some of these changes (a back up will be done to the database incase anything goes wrong, so there's nothing to worry about). Please be patient about the maintainence and if there are any delays we'll be posting updates on Twitter / Discord.
One of the things we're looking to address in this maintainence, is betting on matches that have the potential to result in a draw. This change will make it so the Draw button is not visible on matches that are of a format where is not draw is possible (i.e. bo2, bo4). It will also be visible in the match details (i.e where it currently says the name of the game) what the format of the match is ("Best of 1", "Best of 3", etc). While this doesn't sound like much, a lot had to change to make this possible so we want to ensure the system is correctly doing it's job.
Once we're confident this works as intended, the next thing we'll be looking to address is ensuring once a match ends, it's quickly processed. We've previously discussed our strategy on this, so I won't ramble about it again.
** IMPORTANT FOR SPORTS BETTERS ** (in effect after maint.)
Currently, using professional betting sites for sports allows you to bet on a tie. A "tie" is ambiguous in sports. In the NHL regular season,
a "tie" is considered to happen by professional betting sites when a game is forced into over time. For clarity and simplicity purposes, we will
not be allowing betting on ties on Sports and will always use the overtime score to determine the winner. We will be adding this to our About page so that it's clear to those who do not read it here.
This may change in the future when we add player vs house Sports based betting, however this is the choice we've currently decided to go with.Thanks for the reply. Although its a little vague i can understand the reasoning behind it.
Any coin can go up in value, just look at that Trumpcoin. It went up 10x, but would it be something i put my money in? Not really.
The part im interested here is the profit distribution.
Instead of buying GBT's and hope to sell them higher, i was trying to do the math in a buy and hold scenario.
All in all, if the return in form of dividends is not relevant (min 10%/year) , there will be no reason for GBT price to go up unless someone decides to pump it.
What volume would the site need in order to give a decent revenue for "shareholders" ?
Considering you are only distributing 10% of the profits, i would say that volume would need to be HUGE.
At this point, with the few info available, i cant make as estimate on how huge.
As soon as you have some numbers, and care to make them public, i would love to hear about it.
